Slumberland Anchored Multi-Tenant - Tomah, WI
9.70% Cap | 51,000 SF Shopping Center | PSF $37 | 91% Leased | Value-Add Upside
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 50,900 SF Slumberland anchored shopping center located at 1122 N Superior Avenue in Tomah, WI. The asset is positioned on a prime parcel with strong visibility along N Superior Avenue, featuring ample parking and easy access. The property boasts a diverse tenant mix of national and local service-oriented businesses, including long-term anchors like Slumberland and Domino's. With high occupancy and stable income streams, this center serves as a key retail hub in the growing Tomah community.
Investment highlights
Strong Anchor Tenant: This center has been anchored by Slumberland, a 120-location furniture retailer with a new 10-year term lease, for over 20 years. Slumberland occupies over 64% of the GLA at just $2.55 PSF.
Diverse Tenant Mix: Features a blend of national brands like Domino's and local service providers such as Security Finance, Express Employment Professionals, and Tomah 2 Nails & Spa, providing recession-resistant income from essential services and retail.
High Occupancy and Stable Cash Flow: Currently 91% occupied with Triple Net (NNN) leases that minimize landlord responsibilities; NOI of $162,463 supported by long-term tenants and renewal options.
Prime Location in Growing Market: Situated along high-traffic N Superior Ave in Tomah, WI, near major highways (I-90 and I-94), with proximity to key employers, military bases (Fort McCoy), and attractions driving daily traffic.
Value-Add Potential: Includes a 4,500 SF vacant space ready for leasing, offering upside through new occupancy to boost NOI.
Attractive Pricing: Priced below $33 PSF, providing an excellent entry point for investors seeking yield in a stable Midwest retail market.
Strategic Positioning Near Traffic Drivers: Close to national retailers such as O'Reilly Auto Parts, Ace Hardware, Tractor Supply, and Burger King, as well as Tomah Health and the VA Medical Center, enhancing customer draw.
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